Sep 17, 2021 | By Crystal Tay
Big data meets consumer insights, Experience WGSN.
May 26, 2021
By WGSN Insider
In our final white paper post, meet your fourth and final consumer, The Conductors. Multidimensional, multitalented and always multitasking, The Conductors are taking on new challenges and demanding new experiences.
With the pace of adaptation accelerated in 2020 due to the pandemic, particularly with learning new skills, this cohort is now used to seeking out new neural inputs, and in 2023 they will seek out new experiences and high-sensorial moments, driving the next wave of multi-hyphenate careers.
In 2023 and beyond, a new generation of hybrid experts will be fuelling the passion economy, and The Conductors will be taking advantage of this new opportunity for growth. As the pandemic normalised stream-and-screen time, it opened up the world of content creation to new generations and industries allowing this cohort to work on their own schedule, from anywhere in the world.
The Conductors are channelling their energy in multiple directions, so invest in new enterprising experiences, virtual adventures, and multi-hyphenate worlds.
As noted in WGSN’s Future Innovations 2023 forecast, the internet is evolving into the metaverse – a shared digital realm that will drive culture and design, enabling new modes of expression and experience. Think of it as a growing manifestation of the Internet 3.0, a connected third space that will impact how consumers communicate, play, shop, learn and work.
The Conductors are leveraging platforms to earn virtual gifts from their audiences, which can be converted into money or tangible rewards. The virtual goods market is currently worth $50bn and is expected to reach a value of US$89.7bn by 2025. Brands can tap in by gamifying their digital shopping experience and creating opportunities for young consumers to share and pay with branded currencies. Twitch, TikTok and Facebook have unveiled ways to thank content creators via virtual tips, by offering in-app currencies paid for with real money.
The tech-savvy Conductors look beyond store loyalty and towards product and peer-review loyalty. The new world of ‘e-teraction’ is all about use cases, demonstrations and connections with real people who are avid users of a product, rather than simply promoters.
Exploring customer sentiments, the Future Consumer 2023 white paper sets out four consumer profiles that will shape the world around us and the detailed engagement strategies for each, helping businesses and brands to create opportunities for growth – despite disruption and uncertainty – and align their teams to deliver on that vision.
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